MCLEAN, VA. — Mars, Inc. has entered into an agreement to acquire Kind North America. Terms of the deal were not announced by the companies, but a report in the New York Times said it may be valued at about $5 billion.
Under the agreement, Kind North America will be combined with Kind International to create one company with business interests spanning 35 countries. The newly combined business will operate as a separate business within the Mars portfolio of companies, according to Kind North America.
Mars took a minority stake in Kind LLC in late 2017. Under that agreement, Mars led the growth of the Kind business outside of the United States and Canada.
“When we began this partnership, I said it was one built on mutual admiration and a shared vision for growth,” said Grant F. Reid, chief executive officer of Mars. “After three years, you can see the impact, as together we have grown the healthy snacking category and brought Kind and the Kind promise to 35 countries and into new categories. We’re delighted to continue to build on this success and welcome Kind North America into the Mars family of companies.”
Daniel Lubetzky, founder and executive chairman of Kind, will remain with the business and play a role in the future development and expansion of the brand, according to the companies.
“We are now well positioned to further advance our efforts and continue building a foremost health and wellness platform,” Mr. Lubetzky said. “As we said in 2017, Mars is a company that shares Kind’s passion for business as a force for good, and I am confident that together, we will be able to make our small contribution to make this world a little kinder.”